Shop Insurance Canada News

By: Luke Jones, Published on July 28, 2017 06:23 PM, Last Update on July 28, 2017 03:24 PM

As the world adjusts to the problems posed by climate change, few industries are under the spotlight as much as the auto industry. Most automakers are pursuing electric vehicles, or vehicles that are propelled by green renewable fuel. Furthermore, brands are being pushed to revolutionize their manufacturing processes.

The insurance industry, too, is developing and embracing methods that are environmentally friendly. Aviva Canada says its sponsorship of the Electric Vehicle Conference 2017 shows that it is leading auto insurance towards cleaner energy and promoting electric vehicles to Canadian customers:

“We are intimately familiar with the impacts of climate change and we want to do our part to help shape the future and help our customers defy any uncertainties this might create,” says Greg Somerville, President and CEO, Aviva Canada. “In Canada, where renewables are such an important part of our grids, it makes sense to power our vehicles with electricity.”

Electric vehicles are likely to become increasingly popular over coming decades as more manufacturer embrace the technology. The Canadian Government also understands the importance of electric vehicles and has started development of a national strategy to increase the number of zero-emission vehicles by 2018.

“We also believe these types of vehicles will include technologies such as Automatic Emergency Braking (AEB) that make it safer to be on the road,” Somerville says. “We currently offer both AEB and green vehicle discounts as incentives for consumers to drive safer and more environmentally friendly vehicles.”

Somerville says insurance companies should not be a barrier between green technology and customers. P&C providers should be creating partnerships with automakers and regulators to make sure customers access to such vehicles is smooth and easy. To make sure customers avoid high premiums, insurance companies should be innovative in how they offer auto insurance, argues Somerville.

“We understand the trend toward automation of transportation and the need to create greater collaboration and partnerships in the market in order to meet the mobility needs of consumers,” Somerville says. “Aviva is open to such collaborations with vehicle, technology and mobility service providers, as well as governments. By working together, we can better understand the technologies, serve consumers better, and provide Canadians with the insurance they need and deserve.”